Member Info for LongInvestor

I’ve been playing on the stock market for some time (check my profile when I joined LSE! ??) - One thing I’ve seen time and time again is if a company sets a price via IPO or any kind of dilution, the SP often falls to just below that level before any bounce up.

I sold 3/4 of my ARB holding at 158 and I’m looking to buy back slightly below the IPO price of £1.09 - I suspect there will be many others thinking the same so when we get there, watch for the bounce!

So, just looked at specs for Whatminer M30+ which is 3400W for 100 Th/s - doing some back of fag packet maths means the max number of miners would be around 29,000 per 100 MW which would generate approx 2.9 Eh/s - assuming a cost of $5,000 (?) per rig, that would be approx $145mln cost for each 100 MW phase (just for the miners).

Totals
- 5.8 EH/s extra capacity
- $290mln funds needed

Apart from the calcs on how many BTC this could produce, cost of power etc does this sound about right or have I missed something with these calcs? (I.e. I have no idea on design criteria for immersion rigs or additional power requirements so expect the actual number of rigs to be lower)

Source: https://www.asicminervalue.com/miners/microbt/whatsminer-m30s-1

So we now know the funds received from this raise and that it should cover the cost of Texas build, but no mention of mining rigs themselves. Has anyone here done the maths to determine how many mining rigs we could power with each build phase (100mW)? Once we have that number we could estimate the cost of rigs, based on previous purchases from Argo or others..

Anyone have a source for this data?

@Poptimist: Delferg53 posted earlier the price was “Up 3.61% pre market on Nasdaq” - giving the impression that it was performing better than the LSE price.

I was merely pointing out that when you calculate the prices, Nasdaq pre-market is just tracking the LSE price. It currently shows as being +5.12% and LSE is -0.58% - In reality, the underlying price is the same/very similar.

Nasdaq pre-market is currently USD 17.30 - up +0.70 (4.22%) since Friday - LSE price is currently 128.47p - USD/GBP exchange rate is $1/£0.73

17.30 / 10 * 0.73 = 126.29p

which means Nasdaq is currently down vs LSE price (even thou it shows as being +ve)

Nasdaq pre-market is just tracking the LSE price - IPO shares are released today so expect a choppy session this afternoon!

@Walkabout ' where can i view 'live' arbk prices?'

Here
https://www.cnbc.com/quotes/ARBK

or here
https://www.google.com/finance/quote/ARBK:NASDAQ

@TheeDuke 'Just had my 4th top up of the day £122k - Have a good weekend all in Bitcoin and Argo we trust. Only advice is LIVE, LOVE LAUGH !'

Oh dear.... every time I see TD showing off his bank balance, the price falls!!

Can anyone buy ARBK from their broker yet? - I've just tried a couple and neither of them allow me to buy. Anyone been able to?

live

So now LSE is closed, it will likely just be 10x ARBKF opening price - currently $20.03 - any trades will be 'new' as the IPO shares don't get released until Monday... It's going to be an interesting couple of sessions until then! :)

it normally between 11-12am EST (16-17:00 here) - I suspect they will wait until LSE closes.

Just read the latest Form424B4 filed with the SEC and it states "The underwriters expect to deliver the ADSs to purchasers on or about September 27, 2021" so it's maybe not going to drop too much more today!?

https://sec.report/Document/0001104659-21-118579/0001104659-21-118579.txt

IPO holders are currently sitting on a nice 30%+ profit if they flip them on opening so I suspect we'll meet somewhere in the middle of current SP and IPO price, I'm calling around £1.21 before a bounce back up if Nasdaq opens before we stop trading here...

Here's a reliable source for the live ARBK price, until your usual sources catch up!

https://www.google.com/finance/quote/ARBK:NASDAQ

Remember it probably wont start trading until after 4pm UK time.

Remember Nasdaq IPOs don't typically start trading until 11-12am EST (16-17:00 BST) so we may see the biggest movements after LSE is closed today!

https://www.nasdaq.com/articles/new-ipos%3A-why-dont-they-start-trading-immediately-after-the-market-opens-2021-09-16

An amended prospectus has just been posted which says Argo have applied to be listed on the top tier Nasdaq Global Select Market (previously on Nasdaq Global) - also some changes as follows (IIRC, this was previously 120 days)

“Reflecting that 5,631,197 outstanding ordinary shares will be subject to 90-day lock-up agreements entered into by our directors and officers and certain of our shareholders, rather than 12,398,891 shares, and that accordingly 451,201,138 ordinary shares will be eligible for sale following the completion of this offering”

https://sec.report/Document/0001104659-21-116606/0001104659-21-116606.txt

@600Thieves "Maybe I'm not reading this correctly but NASDAQ seems to be saying we are 1,125,000 'Shares Over Allotted'. Is this the same as oversubscribed or is it the shares given in lieu of the fees?"

They are the additional ADSs the underwriters can sell, on top of the 7.5mln.

Form F6 just filed which now says 100mil ADS shares

https://sec.report/Document/0001104659-21-115351/tm2115473d18_f6.htm

"On September 10, 2021, the last reported sale price of our ordinary shares on the LSE was £1.334, or $1.84 per ordinary share based on the exchange rate of £1.00 to $1.38 on that date. Based on the last reported sale price of our ordinary shares on the LSE on September 10, 2021, we have assumed an initial public offering price of $18.40 per ADS. The actual initial public offering price will be determined between us and the underwriters at the time of pricing, and may be at a discount to the current market price of our ordinary shares on the LSE. "

https://sec.report/Document/0001104659-21-115345/#tm2115473-17_f1a.htm